Rep AI Technologies Inc., creator of the world’s first AI Concierge™, has raised $8.2 million in funding to further develop its innovative e-commerce sales tool. This investment, led by Osage Venture Partners (OVP), will enhance Rep AI’s technology, designed to improve sales conversion rates by providing personalized assistance at scale.
- Funding and Investors:
- The $8.2 million funding round was led by OVP, with participation from Flashpoint Venture Capital and Oryzn Capital. These investors are backing Rep AI for its strong market traction and disruptive value proposition.
- Innovative Technology:
- Rep AI’s AI Concierge™ leverages behavioral AI and large language models (LLMs) to analyze shopper behavior and provide real-time, personalized assistance. This approach increases conversions by an average of 22% and delivers a 30x ROI within the first month of implementation.
- Market Impact:
- With over 500 merchants worldwide already using the solution, Rep AI is experiencing a 15% month-over-month growth rate. The technology enhances the shopping experience by offering tailored recommendations and relevant information, helping merchants to refine their product offerings.
Statements from Key Figures:
- Sean Dowling, Partner at OVP:
- “Rep AI’s use of AI to provide personalized sales assistance has the potential to transform customer experiences and boost conversion rates in e-commerce.”
- Yoav Oz, Co-Founder and CEO of Rep AI:
- “Our technology offers an evolution in e-commerce by providing scalable, customized sales support, addressing the industry’s long-standing conversion challenges.”
- Lior Segal, Partner at Oryzn Capital:
- “Rep AI’s solution is set to become a new standard in e-commerce by enabling scalable, personalized sales assistance and improving overall market potential.”
- Noam Wolf, Partner at Flashpoint Venture Capital:
- “Rep AI addresses the e-commerce industry’s need for professional, consultative support, improving the buying experience and reducing consumer anxiety.”
Rep AI’s technology is expected to become a pivotal tool in e-commerce, setting a new benchmark for personalized sales assistance and customer engagement.